Commitment Fee
Definition of "Commitment fee"
Charge by the lender to keep credit available to the potential borrower. Once the loan is made, interest is charged on the amount borrowed. Real estate businesses often need money available for land development and building construction. Typically, the bank will charge a commitment fee on those funds.
Popular Real Estate Terms
The spouse's legal right, upon the death of his wife (or her husband), to a life estate in all lands she (or he) owned. ...
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Number of housing units of a particular category that are available. ...
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One who sells real estate or other products. ...
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